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DISCOUNTED CASH FLOW ANALYSIS <br /> DISCOUNTED CASH FLOW ANALYSIS <br /> 9 LOT DEFINITIVE SUBDIVISION <br /> 33 MARRETT ROAD,LEXINGTON <br /> 8 LOT SUBDIVISION Year: 1 2 <br /> INCOME Lot Sales 5 4 <br /> Average lot price $698,000 $725,000 <br /> GROSS LOT SALES $3,490,000 $2,900,000 <br /> DEVELOPMENT EXPENSES <br /> Brokerage 5.465% $190,729 $158,485 <br /> Legal per lot $800 $400 $3,200 <br /> Engineering and Pennitting $60,000 <br /> Demolition $20,000 <br /> Roads $247,500 <br /> Real Estate Taxes $3,700 $18,690 <br /> Overhead and Profit 12% $418,800 $348,000 <br /> TOTAL EXPENSES $945,529 $528,375 <br /> NET INCOME $2,544,472 $2,371,625 <br /> DISCOUNT RATE 8.25% 1.083 1.172 <br /> PRESENT WORTH $2,350,551 $2,023,905 <br /> INDICATED MARKET VALUE $4,374,457 <br /> ROUNDED TO $4,370,000 <br /> ADD BUILDING $3,830,000 <br /> TOTAL VALUE $8,200,000 <br /> Real Estate Appraisal&Consulting i L1efi Ster <br /> Comp <br />